General Information

You may use CP Federal Credit Union bill paying service to direct CP Federal Credit Union to make payments from your savings or share draft (checking) account to the merchants you choose in accordance with this agreement. The terms and conditions of this agreement are in addition to the account agreements, disclosures and other documents in effect from time to time governing your account.

Please note that Bill Pay cannot be used to pay court ordered payments, government taxing authorities or merchants located outside of the United States.

Bill Pay Transactions

You authorize CP Federal Credit Union to process bill payments from your designated account. You may use the Bill Pay service to initiate three different types of payment transactions:

On demand payments are payments that are not reoccurring. They are a one time only entry.

Future payments are payments that you initiate manually each payment by setting the payment amount and due date. 

Recurring payments are payments that are reoccurring on a fixed due date and fixed amount. Recurring payment requests will be processed on the dates designated by you, unless such date falls on a non-business day resulting in your payment being processed on the next business day.

The Credit Union will process your payment on the business day (Monday through Saturday, excluding holidays) you designate the bill is to be processed, provided the payment request is received prior to the cut-off time set by the Credit Union, currently 7:00 p.m. EST. The Credit Union reserves the right to change the cut-off time for transaction processing.  

Authorized Payments

When you transmit a bill payment instruction to us, you authorize us to transfer funds to make the bill payment transaction from your designated CP Federal Credit Union account. The Credit Union will not process any bill payment transfer if we know the required transaction information is incomplete. The Credit Union will not be liable for any transaction that contains incomplete, incorrect, or outdated information. If there are insufficient funds in your account to make the bill payment request, we may refuse to make the payment, make the payment and transfer funds from any overdraft protection account you have established, or make the payment and thereby overdraw the payment account. In any event that you have insufficient funds in your payment account to make the bill payment request, you are responsible for any non-sufficient funds (NSF) or overdraft charges the credit union may impose. You are responsible for any NSF, finance charges, and/or late fees imposed by the bill payment provider and/or the merchant(s) you intended to pay with your bill payment account. The Credit Union reserves the right to refuse to process payment instructions that reasonably appear to the Credit Union to be fraudulent or erroneous.

Processing Payments

The amount of your requested bill payments will be deducted from your account on the First Payment Date and will be posted within five business days for those companies accepting an electronic transfer or seven to ten business days if a paper check must be issued. You will receive a tracking number or check number for each transaction. You must have sufficient funds available to cover the payment on the date you initiate the payment.

Bill payments are delivered to the payee either electronically, which may take up to five business days from the First Payment Date, or by check to those payees not set up to accept electronic payments, which may take up to seven to ten business days from the First Payment Date. It is your responsibility to schedule your bill payments in such a manner that your obligations will be paid on time. You should enter and transmit your bill payment instructions at least seven to ten business days before a bill is due. If you do not allow sufficient time, you assume full responsibility for any late payments or finance charges that may be imposed as a result of your failure to transmit a timely bill payment authorization.

Canceling or Changing Bill Payments

Any bill payment can be changed or canceled, provided you access the service prior to the cut-off time on the business day prior to the First Payment Date.

If you wish to place an oral stop payment on a bill payment transaction after the cut-off time on the business day prior to the First Payment Date, you may only do so for a transaction that was paid by check. You may call the Credit Union or come in to an office to request a stop payment. If you call, the Credit Union may require you to confirm your stop payment request in writing within 14 days after the call. There is a fee to place a stop payment. Please refer to our fee schedule for our stop payment fees. If the transaction was paid by an electronic transfer, you must retrieve the funds from the company that you sent the funds to. You can tell whether your payment was paid by an electronic transfer or by check by using the check number that you are issued when you initiate the payment. If the number begins with an 8 or 9 the bill will be sent by an electronic transfer. If the number begins with any other number a paper check will be sent.